German investment and trade with Pakistan will boost considerably as a result of Prime Minister’s recent visit to Germany: Commerce Minister
Islamabad, November 26, 2014 (PPI-OT): Federal Minister for Commerce, Engr. Khurram Dastgir Khan has said that the German investment and trade with Pakistan will boost considerably as a result of the Prime Minister’s recent visit to Germany. The benefits of GSP Plus have impacted very positively on Pakistan’s export to Germany and during the first eight months of this year there is an increase of 12.71% in the exports to Germany as compared to the same period last year. The Minister made these remarks while meeting with the Ambassador of Federal Republic of Germany to Pakistan Dr. Cyrill Nunn.
Mr. Dastgir said that Pakistan seek German investments in hi-tech fields of energy production, agricultural technology and heavy industry. The Minister appreciated the support of Germany to Pakistan in achieving GSP Plus which provided great relief to Pakistan’s exporters this year and Pakistan’s exports to EU increased by 18% despite scarcity of energy during the summer season.
Stating the contours of trade and investment policy of the present Government, the Minister said that the Prime Minister paid a visit to all the neighbouring countries in order to facilitate trade, investment and connectivity in the region and beyond.
He apprised the Ambassador that with rail, road and financial system connectivity in place, investment in Pakistan by the European investors will open the markets of Afghanistan and Central Asia for the potential investors in Pakistan.
Ambassador of Germany said that large German investors are interested in investing in Pakistan and establish supply and value chains across the South and Central Asian regions. This will be helpful in further integrating the region and local markets will benefit greatly from the knowledge-based investments from Germany.
The Ambassador said that three delegations of German investors are scheduled to visit Pakistan in the coming months which will seek to enhance investment in electricity production, energy and heavy vehicle industry. He apprised the Minister that German investors are considering the prospects of establishing an assembly line for busses in Pakistan which will provide a boost to Pakistan’s transport sector.
Dr. Nunn said that Germany will hold a Mega City conference in Karachi for its investors where prospective investors and traders will be provided with first-hand information regarding business and investment opportunities in Pakistan. The Minister invited the German companies to Expo Pakistan which is scheduled to be held in the last week of February next year.
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